Study: Port Milwaukee Generates $100 Million
A new study of the economic impact of the Port of Milwaukee concludes that Port Milwaukee sustains more than 1,300 direct jobs and generated more than $100 million in business revenues last year, yielding $30 million in state and federal taxes.
The report, titled “Economic Impacts of the Port of Milwaukee,” was performed by Martin Associates of Lancaster, Pa., an economic analysis firm that specializes in the marine industry. Milwaukee’s report complements another recently released study of the entire Great Lakes-St. Lawrence Seaway navigation system that demonstrated that maritime shipping produced $356 billion in economic activity in the U.S. and Canada in 2017.
Newly installed Port Director Adam Schlicht said, “Port Milwaukee’s mission is to promote economic activity by stimulating international trade and commerce. Today’s report shows that the port’s efforts support local employment and local businesses.”
The report said that 630 people were directly employed at the marine terminals, receiving $29.4 million in wages and salaries. Spending by those individuals supported 460 “induced” jobs. Another 219 “indirect” jobs were supported by $24.8 million worth of regional purchases by businesses supplying services at the Port of Milwaukee’s marine terminals.
Direct business revenues from port activities amounted to $106.5 million. A total of $34.4 million in state and federal taxes was generated by cargo and vessel activity at the port, breaking down into $9.7 million in state taxes and $24.7 in federal taxes.
The report noted that there is currently no single data source for marine cargoes moving on the Great Lakes and St. Lawrence River. To capture cargo data, the report’s authors used a number of sources including the Chamber of Marine Commerce for Canadian-flag vessels, the St. Lawrence Seaway Management Corporation, the Maritime Information Bureau of the St. Lawrence Development Council and proprietary commodity tonnage information supplied by the Lake Carriers’ Association for U.S.-flag carriers.